Pakistan faces last IMF board review before passing crucial budget
2023.06.08 01:15
© Reuters. FILE PHOTO: The International Monetary Fund (IMF) logo in Washington, United States, September 4, 2018. REUTERS/Yuri Gripas/
KARACHI, Pakistan (Reuters) – Pakistan can have only one remaining board review under the current bailout package of the International Monetary Fund (IMF) before its budget is unveiled on June 9, itself a step towards a successful review, a Fund official said on Thursday.
“To pave the way for a final review under the current EFF, it is essential to restore the proper functioning of the foreign exchange market,” the multilateral lender’s resident representative for Pakistan, Esther Perez Ruiz, told Reuters.
Other factors included passing a budget for the 2024 fiscal year that met program objectives, and securing firm and credible financing commitments to close a $6-billion gap ahead of the board review, she added.
